Benson Investment Management Company Inc. Makes New Investment in Loews Corporation $L

Key Points

• Benson Investment Management Company Inc. has made a new investment in Loews Corporation, acquiring 60,565 shares worth approximately $5.55 million, representing 2.1% of its portfolio.
• Loews Corporation reported $1.87 earnings per share for the last quarter with a net margin of 7.47% and a market capitalization of $20.90 billion.
• The company announced a quarterly dividend of $0.0625 per share, resulting in an annualized dividend of $0.25 and a yield of 0.2%.

Benson Investment Management Company Inc. purchased a new position in shares of Loews Corporation (NYSE:L - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 60,565 shares of the insurance provider's stock, valued at approximately $5,551,000. Loews comprises 2.1% of Benson Investment Management Company Inc.'s holdings, making the stock its 19th largest position.

A number of other institutional investors also recently bought and sold shares of L. Wayfinding Financial LLC purchased a new stake in Loews during the 1st quarter worth about $25,000. Sierra Ocean LLC lifted its holdings in Loews by 805.9% during the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock worth $28,000 after buying an additional 274 shares during the last quarter. Elequin Capital LP purchased a new stake in Loews during the 1st quarter worth about $30,000. Zions Bancorporation National Association UT purchased a new stake in Loews during the 1st quarter worth about $33,000. Finally, NBC Securities Inc. purchased a new stake in Loews during the 1st quarter worth about $40,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Down 1.4%

Loews stock opened at $100.78 on Friday. Loews Corporation has a fifty-two week low of $75.16 and a fifty-two week high of $103.52. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market capitalization of $20.90 billion, a P/E ratio of 16.02 and a beta of 0.73. The stock has a 50-day simple moving average of $97.25 and a 200-day simple moving average of $91.64.

Loews (NYSE:L - Get Free Report) last posted its earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.The business had revenue of $4.56 billion during the quarter.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews's dividend payout ratio is currently 3.97%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "buy (b+)" rating on shares of Loews in a report on Wednesday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy".

About Loews

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.

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